IV is elevated with unusual activity. No clear edge detected.
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 70.6% — elevated vs history
IV/HV 1.29x — IV premium over HV
Sector percentile 82% — above sector median
Front/Back 1.03x — flat
Put/Call IV 1.16x — elevated
ATM IV 54.7% — normal range
Effective IV 85.8% (ATM 54.7% + spread 15.5% + bias) — expensive
Total drag 24.38% (spread 15.53% + slippage 8.85%) — high friction
Vega efficiency 7.17 (vega 11.134 / spread 15.53%) — efficient
Bullish or bearish?
Analyzes
Conviction-weighted: +31% (strong bullish) — Raw: +31%
|OI skew| 19.4% — call-heavy
Vol skew -25.9%, OI skew +19.4% — divergent (opposite)
0-DTE 23%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: +20%, ATM: +44%, OTM: +21% — strong bullish (ITM/ATM aligned)
Sector P/C percentile 93% — very bearish vs sector
Unusual activity?
Detects volume surges,
Volume 0.9x avg — normal
Vol/OI 6.1% — normal turnover
Top 3 strikes = 50% — dispersed
1 day(s) elevated — may be one-day event
OI change +7.9% (5d) — building
Sector activity percentile 79% — active vs sector
Large trade volume 23% — mixed
Aggressive execution 33% — patient
Conviction +31 (bullish) — moderate
Can I trade efficiently?
Evaluates
Spread 15.5% — wide
OI 57,425 — deep
Volume 3,507/day — adequate
$0.78 to cross — expensive
0 liquid strikes — limited options
Sector spread percentile 85% — much wider than sector
Depth 172.0 contracts (bid:96.0 ask:76.0) — adequate
Avg slippage 8.85% — poor
Is now a good time?
Considers earnings proximity,
Slope +3.4% — flat/unclear
IV percentile 71% — seller opportunity
IV kink 1.7pts — no clear event
θ/ν ratio 57.63 — favors income trades
4 liquid expirations — flexible
acceptable: No earnings detected; FOMC in 5d
Spread ratio 1.00x — stable
Flow +31% @ 65% consistency — moderate (bullish)
Score 53 (ITM 20% + inst 23%) — moderate institutional
For educational purposes only. Not investment advice.